Baidu, Inc. (BIDU) Receives $239.06 Average Target Price from Analysts
Baidu, Inc. (NASDAQ:BIDU) has received a consensus recommendation of “Buy” from the twenty-nine research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $239.06.
A number of equities research analysts recently commented on the company. Oppenheimer Holdings, Inc. increased their price target on Baidu from $250.00 to $295.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Barclays PLC set a $240.00 price target on Baidu and gave the stock a “hold” rating in a research report on Monday, October 30th. J P Morgan Chase & Co decreased their price target on Baidu from $230.00 to $225.00 and set a “neutral” rating on the stock in a research report on Monday, October 30th. Vetr upgraded Baidu from a “buy” rating to a “strong-buy” rating and set a $277.19 price target on the stock in a research report on Monday, October 30th. Finally, OTR Global upgraded Baidu to a “positive” rating in a research report on Wednesday, October 25th.
Hedge funds have recently bought and sold shares of the company. Grove Bank & Trust lifted its stake in shares of Baidu by 74.2% in the 2nd quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 253 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in shares of Baidu in the 2nd quarter valued at $112,000. Harbour Capital Advisors LLC lifted its stake in shares of Baidu by 17,786.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 20,810 shares during the period. Aviance Capital Management LLC acquired a new position in shares of Baidu in the 2nd quarter valued at $124,000. Finally, Highstreet Asset Management Inc. acquired a new position in shares of Baidu in the 2nd quarter valued at $146,000. 64.27% of the stock is currently owned by institutional investors.
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Baidu (NASDAQ:BIDU) traded down $0.55 during midday trading on Thursday, reaching $241.54. The company had a trading volume of 1,621,010 shares, compared to its average volume of 3,284,302. The company has a market cap of $83,756.41, a price-to-earnings ratio of 30.57, a PEG ratio of 1.26 and a beta of 1.94. Baidu has a 1-year low of $159.54 and a 1-year high of $274.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.71.
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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